Around 600 miners used to mine Bitcoin and other cryptocurrencies have been stolen from various data centers in Iceland. The Icelandic police are stating that it is the largest group of linked thefts that have ever occurred in the nation.

So far eleven people have been arrested, one being a security guard. of the eleven, a judge has ruled that two of them are to remain in custody. “This is a grand theft on a scale unseen before,” said Olafur Helgi Kjartansson, the police commissioner on the southwestern Reykjanes peninsula.

The mining computers were stolen in four separate burglaries, three in December and one in January. The authorities originally chose not to publicise the robberies in an effort to investigate without any hindrance.

Iceland has become a haven for miners and mining companies due to the nations geothermal and hydroelectric power plants, this has attracted global interest and it seems, criminal interest too.

The police are now working with energy providers to identify any new or unusual requests for energy. They are hoping that the thieves might show their hand by attempting to mine the various cryptocurrencies as opposed to selling the equipment.


Tiaan Wolmarans is a cryptocurrency investor and trader, airplane pilot, musician, and writer.

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